In judicial practice,the determination of civil liability of securities intermediaries in misrepresentation cases remains difference and needs to be integrated.To clarify the civil liability of securities intermediaries in misrepresentation cases,we should first determine the legal relationship between securities intermediaries and investors.After finding that a special trust relationship is established based on trust,we should further make it clear that that securities intermediaries should bear the civil liability proportionate to their faults.From the perspective of whether the disclosure information is effective,whether the causal relationship between misrepresentation and the investor's trust and loss can be proved,and the standardof the securities intermediaries to fulfill the ordinary duty of care,this paper reconstructs the standard of determining the civil liability of securities intermediaries in the cases of misrepresentation.It is imperative for the securities intermediaries to take their due responsibilities in the securities market and promote the healthy and orderly prosperity and development of the securities market.
关键词
证券中介机构/特殊信赖关系/比例连带责任/责任标准重构
Key words
securities intermediary/special trust relationship/proportionate joint and several liability/liability standard reconstruction